Jerusalem – Ma’an – The Israeli Ministry of Finance said – today, Monday – that the war on the Gaza Strip led to an increase in debt to 200% last year.

The ministry said in a report that Israel recorded debts amounting to 160 billion shekels ($43 billion) in 2023, including 81 billion shekels since the outbreak of the war last October.

Israel borrowed 63 billion shekels in all of 2022.

Total debt reached 62.1% of GDP in 2023, up from 60.5% in 2022 due to a rise in war spending, and it is expected to reach 67% in 2024.

Accountant General Yali Rotenberg said that 2023 was full of challenges and entailed a sharp increase in financing needs and ‘required tactical and strategic adjustments’ in the government’s borrowing plan.

Source: Maan News Agency